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Sep 26, 2012 4:00pm EDT
post-war draw downs. that's what we're in right now. the war in iraq is ending. the war in afghanistan is drawing down. it's understandable that u.s. military spending would start to go down. >> well, will you -- you say it will be devastating to the economy. give us your take. >> well, i would like to make three points. first of all, defense will and can make a contribution to deficit reduction. secondly, this is not the way. the sequester is the worst way to go about reducing defense spending. thirdly, the right way to do it is to go after taxes, raise tax revenue and cut the entitlement programs, which are driving long-term spending growth and debt creation in this country. it's not defense, which is on a relatively stable downward path. so, you know, i would agree that we need to cut our deficits. it's just the wrong way to do it. >> so what is the better way to do it? here we have, you know, automatic cuts coming, automatic tax increases coming. a lot of people predicting that 2013 will be a recession as a result of this. we haven't even heard from the defense companie
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